South America Seasonings and Spices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Seasonings and Spices Market Analysis
South America Seasoning and Spices Market is anticipated to register a CAGR of 5.5%, during the forecast period of 2020-2025.
- Nutritional benefits, derived from seasonings and spices, such as cinnamon, nutmeg, basil, and turmeric, among others, have proved to be a key factor promoting the market growth.
- Application in convenience food, such as ready-to-eat or ready-to-drink consumables, incorporates a wide range of seasonings and spices. This trend has boosted the growth of the South America seasoning and spice market. The evolving foodservice industry has witnessed a considerable growth in the recent past, where consumers are inclined toward Asian cuisines, such as Chinese, Indian, Thai, and Vietnamese, which involve a wide variety of spices. Growing interest among consumers to try out new cuisines is also boosting the market growth.
South America Seasonings and Spices Market Trends
This section covers the major market trends shaping the South America Seasoning & Spices Market according to our research experts:
Increasing Demand for Processed Food
There has been an increase in consumer spending on baked goods, confectionery products, and ready-to-eat & fried food, particularly in developed economies. As a consequence, sectors, such as bakery, confectionery and prepared food, are buying more spices. The demand for processed food depends largely on the economic situation, in a particular country or region. Also, where economic activity is growing, there are sufficient disposable incomes and growing urban populations, who form the major markets for commercially processed foods.
Growing Consumer Preference for International Chained Restaurant
The international chained restaurants like Burger King, Dominos are becoming a daily consumption industry. It is becoming a regular part of the consumers' lives than ever. This requires greater variety and, potentially, a shift away from the traditional emphasis on indulgence.
The growth of the foodservice industry is fueling the demand for spices and seasonings, as people want to try out new, ethnic, and exotic dishes. The rise of delivery and logistics platforms, such as UberEats, Swiggy, and Zomato, has created opportunities for new operators, while forcing more established operators to find new means of differentiation.
South America Seasonings and Spices Industry Overview
The South American Seasonings and Spices Market is dominated by players like McCromick, Kerry Group, Sensient Natural Ingredients, Döhler Gmbh and others. The strong distribution networks and acquisition of distribution companies are major strategies used by players to expand their retail presence. McCormick' has a highly optimized supply chain with a separate unit formulated specially for the keeping the supply chain in place and intact.
South America Seasonings and Spices Market Leaders
McCormick & Company, Inc.
Kerry Inc.
Sensient Natural Ingredients
Dohler Gmbh
Frontier Co-op
*Disclaimer: Major Players sorted in no particular order
South America Seasonings and Spices Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Products Type
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5.1.1 Salt and Salt Substitutes
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5.1.2 Herbs
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5.1.3 Spices
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5.1.3.1 Pepper
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5.1.3.2 Cardamom
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5.1.3.3 Cinnamon
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5.1.3.4 Clove
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5.1.3.5 Nutmeg
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5.1.3.6 Other Spices
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5.2 By Application
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5.2.1 Bakery and Confectionery
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5.2.2 Soups, Sauces, Salads, and Dressings
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5.2.3 Meat, Poultry, and Seafood
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5.2.4 Snacks and Convenience Food
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5.2.5 Other Applications
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5.3 By Geography
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5.3.1 Brazil
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5.3.2 Argentina
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5.3.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 McCormick & Company, Inc.
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6.3.2 Kerry Inc.
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6.3.3 Sensient Natural Ingredients
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6.3.4 Dohler Gmbh
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6.3.5 Frontier Co-op
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6.3.6 Olam International
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6.3.7 Worlee Group
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6.3.8 Cargill, Incorporated
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Seasonings and Spices Industry Segmentation
South America Seasoning and Spices Market is segmented by Product Type into Salt & Salt Substitutes, Herbs, and Spices. The market is segmented by Application into Bakery & Confectionery, Soups, Sauces, Salads, & Dressings, Meat, Poultry, & Seafood, Snacks & Convenience Food, and Other Applications. The market is also segmented by Geography.
| By Products Type | ||||||||
| Salt and Salt Substitutes | ||||||||
| Herbs | ||||||||
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| By Application | |
| Bakery and Confectionery | |
| Soups, Sauces, Salads, and Dressings | |
| Meat, Poultry, and Seafood | |
| Snacks and Convenience Food | |
| Other Applications |
| By Geography | |
| Brazil | |
| Argentina | |
| Rest of South America |
South America Seasonings and Spices Market Research FAQs
What is the current South America Seasoning and Spices Market size?
The South America Seasoning and Spices Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in South America Seasoning and Spices Market?
McCormick & Company, Inc., Kerry Inc., Sensient Natural Ingredients, Dohler Gmbh and Frontier Co-op are the major companies operating in the South America Seasoning and Spices Market.
What years does this South America Seasoning and Spices Market cover?
The report covers the South America Seasoning and Spices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Seasoning and Spices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Seasonings and Spices Industry Report
Statistics for the 2024 South America Seasonings and Spices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Seasonings and Spices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
